19 October, 2012

Eliminating tax obstacles to the transfer of shares

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The Spanish Government is preparing new measures to prevent tax fraud, more reprehensible than ever considering the current economic context.

The good news that we are bringing you today is that the new regulations, which are currently being drafted, are expected to introduce new amendments relating to the transfer of shares of real estate companies.

For those that may not be familiar with it, it must be reminded that a share transfer of a company that may qualify as a real estate company for tax purposes, (when its assets consist in, at least, 50% of real estate located in Spain) is subject to Transfer tax, (generally from 7 to 8 per cent, depending on the geographical location of the real estate).

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